PrivateBancorp Capital Trust IV, 10.00% Trust Preferred Securities
PVTBP
NASDAQ- -
USD
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- -
Capital Structure
FRC
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in mil. unless spec.Working Capital
FRC
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in mil. unless spec.Growth Rates
FRC
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in mil. unless spec.Quarterly Revenue
FRC
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
FRC
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Banks
- Address
- IPO Date
- May 21, 2008
- CIK
- 0001434228
- Similar Companies
- Business
- PrivateBancorp Capital Trust IV operates as a Delaware statutory trust and special purpose entity formed specifically to issue trust preferred securities. The trust's primary product is its 10.00% Trust Preferred Securities (ticker: PVTBP), which provide fixed-rate distributions to investors and represent junior subordinated debt obligations ultimately backed by its parent company, PrivateBancorp, Inc. These securities function as hybrid capital instruments, offering income-focused returns while qualifying as Tier 1 capital for the issuing bank holding company prior to regulatory changes. The trust maintains operations through its investments in junior subordinated debentures issued by PrivateBancorp, Inc., with no independent geographic footprint beyond the administrative domicile in Delaware. PrivateBancorp Capital Trust IV was established in connection with PrivateBancorp, Inc.'s capital-raising activities, likely in the mid-2000s, as part of a series of similar trusts (I through IV) used by the Chicago-headquartered bank holding company, founded in 1989, to bolster regulatory capital. In a major strategic change, parent company PrivateBancorp, Inc. was acquired by Canadian Imperial Bank of Commerce (CIBC) in June 2017 for approximately $5 billion, integrating its middle-market commercial banking, private banking, and wealth management operations across 18 U.S. states into CIBC's U.S. platform. This acquisition preserved the trust preferred securities' ongoing trading status on Nasdaq, with PVTBP shares maintaining liquidity and trading around $25.22 as of recent quotes, though the common stock (PVTB) was delisted post-merger. No further recent funding rounds, product launches, or operational shifts specific to the trust have been reported in the last 1-2 years, as its role remains passive income distribution amid CIBC's expanded North American footprint.